Offline wallet - debit card


#1

It is clear that we’re seeing the future use of ETN becoming a currency in exchange for goods and services by simply using our mobile wallets - Instant payment API. However, the mobile wallets do not operate without wifi and its the only option available at the moment.

Electroneum aims for mass adoption which includes the unbank presumably the majority of poverty/poor class citizens. Many who are unable to afford a monthly payment - phone service. Or in a case of a lost, broken or stolen phone. Common users will have to factor in a monthly expense for service - $50-100 monthly average (US). Technically, the Electroneum app is free but not the maintenance service.

-How will the user be able to use his/her ETN offline?
-Will, there be a form of a debit card?

Debit card - BitPay for example. A 3rd party service who provides a Visa card to Bitcoin users that can be used anywhere offline with $0 cost for monthly maintenance - free compared to mobile service. Users don’t need a mobile phone or wifi to access their funds unless they want to check their balance.

This is NOT FUD but a user concern/curiousity.!

I turned off both data and wifi to showcase the wallet app offline. If users could use the app without wifi/data. We don’t need a debit card or such. That would be a game changer!

Additional (Edit) 10/15/2018

Pundi X - a crypto company with a similar payment system as Electroneum. Possibly instant as well. However, not only do they offer vendor API but also an offline card without using your mobile phone - X Pass Card. Similar to a debit card or Bit pay.

Check out their video demonstrating the use of X Pass and mobile purchasing Coffee.
Link: https://www.youtube.com/watch?v=PWESI8--Lcc

Disclaimer: I’m not an affiliate or investor of Pundi X. Just pointing out the “offline” issue and perhaps challenge the Electroneum team for innovative ideas to solve this problem.


#2

Yes this is a good point to raise I have mentioned the idea of having debit cards and have had people say its a waste of time since everything is going mobile but it certainly does not cater to the people you are describing and also older generations. Maybe ETN already has something up there sleeve to combat this, next time someone interviews Richard I would to see someone ask about a card many other cryptos are already dong it so the demand is clearly there.


#3

I don’t think your statement is true in regards to the WIFI. My app works just fine off of cell towers here in the states.


#4

Hes talking about people who can’t afford data or get to a wifi point?


#5

As Danny mentioned, a phone without data/wifi service. Sure there are many major retailers/restaurants who offer free wifi such as Walmart, Target, Starbucks, McDonald’s, etc but not all locations. Especially in distressed countries. This is where an offline wallet should be available at all times such as - Debit card or a cold storage.

Not to mention - cash withdraw. As long as fiat exist, there are tons of businesses out there who only accepts cash.

Edit: A cold storage that can be used for buy/sell transactions as well.


#6

Additional info towards offline issue


#7

I have said this before with nobody coming back to me. Can Electroneum create a offline qr code where the user needs a pin to engage it.Whereby when its scanned the api from the “shop” connected online can take the payments up to a certain amount… purely an idea.


#8

I agree. Apple Pay can function with or without data/WiFi utilizing NFC (Near Field-communication) - mobile payment.

However, after further research based on the use of debit/credit cards versus cash, checks or mobile payments. Statistics show there’s still a high demand using cards more than other methods by both consumers and merchants.

Link: https://www.creditcards.com/credit-card-news/payment-method-statistics-1276.php

The mobile payments have its pros and cons but in my opinion. The cons have a complicated way based on certain circumstances.

Pros

  • Mobile
  • Easy access and availability
  • User-friendly
  • Instant payment transaction

Cons

  • Unable to use offline without NFC
  • Inconvenient or trust issues in restaurants (Giving the waitress/waiter your phone to pay for the transaction)
  • Monthly service bill

That said, card may be the best alternative option for Electroneum payments